This quarter, the Waterloo Region industrial market saw positive absorption of 576K square feet, with availability coming back down to 2.6% after an increase last quarter.
- Availability dropped to 0.9% for Class A space.
- Kitchener, Waterloo and Cambridge have seen rental growth upwards of 18% year-over-year since Q3 2019, as landlords hold firm to pre-COVID pricing despite uncertainty.
- Speculative developers remain cautious, and with limited construction activity, we have seen little relief to the supply challenges the market has faced throughout 2020.
